fnma: FNMA EA LEVELS ARE CHANGING TO 620 FICO!? REALTORS MUST KNOW! - 01/14/08 02:20 AM
I just recieved an e-mail from one of my lenders (GMAC)....he says that that all FNMA products will be changing as soon as tomorrow!
(from e-mail:)
ALL EA LEVELS AND MY COMMUNITY IS CHANGING TOMORROW, FANNIE IS CHANGING THE MIN FICO TOMORROW, RUN AND LOCK THESE LOANS TODAY.  THEY ARE SAYING MIN FICO @ 620!
If this is true, a lot of deals will be lost to 580 - 620 borrowers who are pre-approved and actively looking for houses! KEEP YOUR EYES OPEN!!
This change is significant enough to remind me of last year when sub-prime lenders were falling out and guidelines changed so … (2 comments)

fnma: FMNA Conforming loan limits Stay the Same - 11/29/07 02:41 AM
Washington, DC - Office of Federal Housing Enterprise Oversight (OFHEO) has announced that the conforming loan limits for mortgages purchased by Fannie Mae and Freddie Mac will remain the same for 2008.  FNMA and FHLMC Loan Limits: Units   Maximum Loan Amount 1       $ 417,000 2       $ 533,850 3       $ 645,300 4       $ 801,950
The conforming loan limit has remained the same for the third straight year.
Units   Maximum Loan Amount 1       $ 417,000 2       $ 533,850 3       $ 645,300 4       $ 801,950
 
(0 comments)

fnma: 2008 FNMA Loan Limits will remain @ $417,000 - 10/16/07 07:42 AM
2008 FNMA Loan Limits will remain @ $417,000
The Office of Federal Housing Enterprise Oversight (OFHEO) announced today that there would be no increase in the 2008 Conforming Loan Limit.  OFHEO is the regulatory agency overseeing Fannie Mae and Freddie Mac.
That means that the single family maximum loan amount for 2008 will remain at $417,000.
2 units        $533,850
3 units        $645,300
4 units        $801,950
....At least there is no DECLINE in the FNMA conforming loan limit!!!
(4 comments)

 

Kris Krajecki

Mortgage Broker Huntley, IL

Huntley, IL

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Kris Krajecki - FOX VALLEY MORTGAGE - Huntley, IL

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